Bengaluru, February 11: In a case of fraud reported  from Bengaluru, Two conmen allegedly duped a housewife from Subramanyanagar and her friends of Rs 88 lakh on the pretext of arranging loan or investments of Rs 50 crore for her friend's business, police said.

According to police, the 36-year-old woman, while looking for agents who facilitate loans, came across the contact numbers of the suspects, who promised to arrange a loan or investments of Rs 50 crore for the business of her friends, Manikantan Kuttat and Manjunath Kumar, residents of Hubbali, reported the Times of India.

The suspects, identified as Rahul Tiwari and Prashant Kumar, both residents of Bengaluru met the victim at a city-based hotel in March 2021.  Online Fraud In Pune: 36-Year-Old Woman Duped Of Rs 45,000 By Cyber Fraudster Posing As Security Personnel; Case Registered

"Tiwari and Kumar promised to arrange a business loan or investment of Rs 50 crore. After scanning our business documents, they said it would cost them Rs 95 lakh towards expenses such as processing work had begun and we should pay Rs 10 lakh," the woman said.  Mumbai Couple Duped More Than 75 People Of Rs 5 Crore On Pretext Of Good Returns On FDs in Post Office And Mutual Fund Schemes; Case Registered

“Manikantan transferred Rs 10 lakh to Kumar’s bank account on March 25. On April 5, he transferred Rs 65 lakh in two instalments to the suspects. In all, we paid Rs 88 lakh to the duo. Now, both have gone incommunicado," she stated, adding that Manikantan and others are "blaming me for trapping them in the racket."

Police have launched an investigation to nab the suspects.

(The above story first appeared on LatestLY on Feb 11, 2022 04:45 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).